Board Meeting Details
The Board of Directors meeting was held on August 7, 2026, commencing at 1:30 PM and concluding at 2:35 PM.
Key Approvals
1. Approved issuance of up to 32,00,000 (Thirty-Two Lakh) fully paid-up equity shares of face value ₹5 each for cash at a price of ₹375 per share (includes premium of ₹370)
2. Total issue size: ₹120,00,00,125 (One hundred twenty crore one hundred twenty-five Only)
3. Shares to be issued in one or more tranches to persons/entities belonging to 'Promoter & Promoter Group' and 'Non-Promoters Category'
4. Approved convening of Extraordinary General Meeting on September 2, 2026 through VC/OAVM
Allottee Details
Promoter/Promoter Group:
- Garudlaxmi Ventures LLP (or such other name as approved by Registrar of Companies)
Non-Promoter Allottees:
1. Saurabh Verma
2. Nitish Mittersain
3. Siddharth Kabra
4. Singularity Large Value Fund III
5. Utpal Hemendra Sheth
6. Sthitaprajna Advisors LLP
7. Amit Mehta
Total number of investors: 11
Pricing Details
Issue price determined as per applicable provisions of SEBI (ICDR) Regulations, 2018 at ₹375 per share including premium of ₹370.
Next Steps
Extraordinary General Meeting scheduled for September 2, 2026 to seek shareholder approval for the preferential issue.
Financial Impact
The preferential issue will result in capital infusion of up to ₹120 crore upon successful completion. The impact on share capital and promoter holding will be determined post-allotment.